Newspaper Page Text
THE ATLANTA GEORGIAN AND NEWS.
WEDNESDAY, MAY 1, 190T.
ACM HIGHER
Near Positions Monopolized
the Dealings in Early
Session.
BULLS IN CONTROL
All Markets Advanced, But
New Orleans Showed
Greatest Strength.
New York. May I.—'The cotton market
opened active, with a sharp advance, eape*
daily in near positions, which monopolized
the dealings. A good many overnight buy*
tni orders were In evidence for both new
and long account and covering of shorts.
The first half of the session was decided
Ij more active than recently, and the bulla
were In complete control, so far as the
summer months were concerned.
In the New York market, first prices were
unchanged to 6 points higher, the lowest
figures of the morning session showing at
the opening. The advance wna sharp from
the opening up to the noon hour. May and
July scoring a rise of 13 points, while
the new crop mouths were forced 8011
points higher.
and July S'? from opening figure* to 11.BO
and 11.66, respectively. The new crop posi
tions showed gains of 6010 points at 11
a. m.
The Liverpool market cloned Arm at ad
vances of 709% points for futures.
Spots were in fair demand 12 points up
at 6.B6d; sales 7,000 bales.
In the afternoon, on realising sales, prices
tagged sharply, the near mouth* closing 50
€ points higher, while the late position*
were 407 points lower.
Semi-weekly Interior movement:
NEWS AND GOSSIP
of tlie Fleecy Staple.
itoi.
Receipt, 19.849
Shipments 28,807
1906. 1906.
15,000 33.100
23,126 55.313
70,616 336,286
Stocks 304,961
Comparative receipts at all V. 8. port*:
Net receipts today 12,479
Same day last year 14.338
Decrease 1.85#
Total receipts for four days 49,569
u,t 7 " r '
___l reeel
.ime time laet jear
Increase 7,229,490
Estimated receipt! Thursday:
1907. 1900.
New Orleans 1.800 to 2,500 8.477
Galveston 2.000 to 9,000 2.862
Houston 800 to 1,200 1,528
Movement at Atlanta:
Receipt* today 40
Kaine day last year 245
Decrease 200
Shipments today Non*
Same day list year 75
Decrease *
Stock on hand today 7.741
Same day last yen* 5.433
Increase 2,808
8peclal to The Georgian. _ „
(From Hayward, \lck Ac Clark.)
New York, May l.-J. 8. Bsche A Co.JtLiv*
erpool was due 4 to 5% points higher; open-
ea quiet at 4 polntk advance. At 12:15 p. m.,
steady, net 3.to 5 advance on near and 3 to
4 advance on distant. Spots In moderate de
mand at 12 points higher; middling. 6M;
sales 7,000, American 6,000; export, flw; Im
ports, uone; tenders new docket, 1,000 hates;
Port receipts estimated early at 10,000,
against 18,139 last year.
The feature of the Liverpool market this
morning Is the remarkable advance In spots.
Reportb from the belt Indicate colder
weather conditions. We would not be at all
surprised to see higher prices rule today.
although prices have certainly discounted
unfavorable weather conditions, but we be-
* there will be farther covering.
_ ’Mowing are 11 a. m. bids: May 10.2J,
July 10.28, October 10.39, January lO.w.
New Orleans, May 1.—The weather map
shows generally heavy rains in the southern
belt. Little precipitation in the northern
belt and eastern states. Temperatures were
not -as low as expected or predicted. Only
light frosta shown at Abellne, Amarillo and
Oklahoma. Indications potut to colder and
probably light scattered showers In the
eastern ana southeastern states; partly
cloudy and warmer in western half of tho
belt.
Liverpool cables: "Think there will be a
comer In Mny-June, natural rather than
otherwise. Resides, there are signs of a
combination to advance prices."
Another says: "Combination exists to
take delivery of May-June and July-August
here. This will widen differences between
old and new crops further. Hare favorable
opinion of the market on account of this
and unfavorablo weather."
Price wires: "I expect an extreme ad
vance In cotton shortly."
COTTON YARN8 ACTIVE
AT SLIGHT CONCE88ION8.
The New York Commercial: The receut
concessions granted by sellers of cottou
yarns have resulted In creating an active
W pm — —„-jr counts.
have failed to show the weakness displayed
In the lower counts and also in, knitting
yarns. Orders have been placed by weavers
for medium and low count varus ranglur *~
size from 75,000- to 150,000 pounds,
amount of business put through during
■MMliaHilMgil,
slee from 75,000 to 160,000 pounds.
' Mr. Lively’s twenty-firs
Edited by
Joseph B. Lively
MARKETS
years' experience of ed
iting markets in Atlanta
and the South has made
him a recognized au
thority In bis specialty.
RANGE OF NEW YORK STOCKS AND COTTON MARKETS
NAME OF STOCK.
Atlantic Coast I
American Sugar Bat. •
Anaconda .......
American Locomotive*
do. preferred
Am. Smelting UeL • •
do, preferred • • ••
Atchison ..*•••
do. preferred . •
American Cotton OH. •
Am. Car Foundry • • •
Baltimore A Ohio • . •
Brooklyn Rapid Tran.. •
Canadian Pacific • • •
Chicago and Nortbiril.
Chesapeake A Ohio . •
Colorado Fuel A Iron. .
Central Leather . . . . .
do, preferred ....
ilcago ft Great W.
Electric . ..
Illinois Csntral ....
Am. Ice Securities • .
Louisville A Nashville.
Texlcan Central . . .
Issourl Pacific ....
NAME OF STOCK.
M. 1., Out. & W
National Lead. . • • • • •
Northern Pacific. • • • • •
New York Central. , , , .
Norfolk Sc Western
Pennsylvania. ••••••#
People's Gas. •••»•••
Pressed Steel Car. • • • •
do. preferred. «,•••.
Pacific alall. ........
Beading; .........
Republic Steel. ......
Bock Island.
__ do. preferred. •••••.
United States Rubber* • • ■
_ do. preferred. • • • • •
Southern Pacific. ......
Southern Hallway,......
_ do. preferred. •••••.
6!os«>Sheffleld .
Tenn. Coal Sc Iron, . . • . .
Texas A Pacific, ......
Union Pacific.
United States Steel, . • • • ,
_ do. preferred
Ta. -Ca r. Chemical. ......
do. preferred.
Western Union. ...... ,
Wabash . . . .
do. preferred. ......
Wisconsin Central. . . . . ,
do. preferred.
<<
Total aalea 560.600 shares."
NEW YORK.
iiaat week fs anld to amount to nearly I
j00 pound#. In ' ’’ * tk *
knitting yarns.
Knitters have been active buyers during
the |»ost few days and orders have been
booked for delivery up to I»eceml>er, 1907.
In addition to this, contracts have also
been placed for deliveries running us far
ahead >11 April of next year. Price* still
continue rather irregular (n some quarters
and quotations are Hiild to differ anywhere
from 740%<\ according to the seller. This
Is resulting III a good deal of shopping
around the market before orders ore placed
and where the buyer secures un ununually
low offer be Immediately uses It In the mar
ket as an argument to force down prices
lower basis.
8P0T COTTON MARKET.
Uiocaiuii! iiiui, 1u1u.11.ni 11
Norfolk, firm; middling18e.
Baltimore, nominal: middling ll%c.
Boston, steady; middling 11.45c.
Augusta, steady; middling 1174c.
St. Louis, steady; middling 1114c.
TODAY’S PORT RECEIPT8.
The following table shows receipts at tba
L rts today, compared with the same day
it year:
New Orleans.
Galvaston. • •
Mobile
Savannah. • •
Charleston. • .
Wltmlugtou. .,
Norfolk. . • .
New York. .
Boston. , . . 1
Pacific coast. ,
INTERIOR RECEIPT8.
Tb* following UM. abow. receipts at tba
Interior towna today, compared wltb tba
■am* day but year:
Mempbla. ,
M. Unit*. .
Cincinnati.
HAYWARD, VICK & CLARK’S
DAILY COTTON LETTER.
, ywterday'a cloning Bgur... In
tba brat bait boor. Thom anmm.r onttoiia
■■tSSSHMSSIM
r*. in
- -PtlOIIS
depend altogether on the dictum of exl ■
bull combinations which could put them t«>
an/ price. By 9:40 n. m. July had reached
11.70, when profit-taking overwhelmed bid
ding and caused a set-back to 11:56 In the
next five minutes. Cables from Liverpool
to the effect that bull combination* existed
there also to take advantage of the peculiar
grade situation, and to squeese May-June
than 5 points, but they are bound to ben•
during the past twenty-four hour*, while
unfavorable, were not as severe as nntlcl
S ated. Temperatures rose In the northwest.
.tpsrlllo shows 32, Oklahoma 86. Abilene 38.
agulnst 22, 32 and 34 respectively yesterday,
and the map shows very little ratnfnll In
those portion* whleb had the cold weather.
Heavy tslna. however, fell in the southern
belt from San Antonio to Montgomery, Ala.,
which la unfavorable for the central states,
at replanting will be further delayed. Pre
cipitation was light in tha east and tern-
K ratures normal. Official forecasts prom-
• generally fair and warmer weather for
the western half of the belt. Imllcatlons
point to cooler weather and probably show-
ers In the eastern states. The market quiet
ed around 10 o’clock, but aa long a* these
artificial conditions exist In the sututiifr
positions and the ortgnal July long liitere*t»
do not relinquish their bold on these op
tions, outbreaks similar to those we have
•een today can not occur again. Leader
of this bull movement lu the old crops lu
New York keeps the market flooded wltb
predictions of further sensational advnmvs.
This knowledge may be of value In judging
future prospects, as no reasoning bolds good
in such market*. Sputa are quiet, but mov
ing with the price of July future*. Some
demand, but little good cotton to trade on.
Haw York. May L-J. S. Bache A Co.: Liv
erpool formed a good basis for the opening
In other quarters to an
It
representing. _
throughout the country are holding very
firmly to tlielr price*, and where orders
have been booked for future delivery pret
tv nearly present levels huvo been main
tallied.
Print Cloth Price* Eaalor.
Among tho large selling agents of print
cloth yarn construction 1 cloths, It la nd
ml tied that price* on good* to arrive arc
somewhat easier. Narrow good* ate hold
lug firmer than wide cloths for late fall
deliver/. Regulars are sold ahead at 474c,
11 ml low count 27 and 25-lnch goods are
also under heavy orders. The wide stand
ard* for delivery during the summer
months are offered by some brokers at He
below tho general market quotations.
ATLANTA MARKETS-
FRUIT AND PRODUCE.
EGOS—Active, 17c.
LIVE POULTRY—liens, active, 35040c
each; chickens, active, 25045«: ench; ducks,
Pekin, 35c each; puddle 25030c each; geese,
full feathered, 60c each; turkeys, act^
l2 $R^Si§ED POULTRY—Geese, undrawn,
active, 10c pound; turkeys, undrawn, ac
tive, 15016c pound; fries, active, 18020c
pound: hens. 14c pound.
PRODUCE—Larda, 10c pound? bams, ac*
five, 15c pound: shoulders, active, 9c pound:
sides, active, 10c pound; butter, active, lS
02274c pound; beeswax, active, 25c pound;
honey, .bright, .active, $c pound; boner In
1-pound blocks, active, 12c pound; dried
apples, 6c pound; white peas, active, 13.25
bushel: lady pens, 13.50; stock, $1.7502.15.
FRUITS—Lemons, fancy Mcssena. $6,750
6.00. Rnnanas, per hunch, culls, active, 90C
0$1; straights, $1.6002. Pineapples, Flori
da stock, per crate, $4.60. Oranges, Florida
stock, owing to site end condition on ar
rival, per box, $4.0004.50. Apples, choice Ben
Davis, uone; fancy, $6.50; Now York state
apples, fancy, $6.50. Grape fruit, Florida
stock, owing to else and color, p
box, $2.50$i3.60. Mine*, Florida stock, p
hundred $1.25; Peanuts In suck, averaging
one hundred por *" ' "
per pound 6'i7f7l
active; cabbage, atandard prates, ac-
live, $2.75 crate; cabbage, barrels, 2%c lb,;
g plant, slow, $2.50 crate; encumbers,
00 crate; tomatoes, fancy, active, $2,500
00; potatoes, new cron, $606 barrel; onions
dry, active, $2.26 bushel; Irish potatoes, ac
tive, No. 1 $1.1501.20 bushel: celery, fancy,
$2.50 per crate; peppers, active, $2.00 crate;
okra, six baskets, small, $3 crate; cauli
flower, active, 607c pound; lettuce, beaded,
active. $2 crate; sweet potatoes, white, ac
tive, 60c bushel; kraut, half-barrel, $3.76;
beans, $3.50 crate; English peas, $2 cratu;
Egyptian onlou, 4%c punudi.
FLOUR, GRAIN AND PROVISIONS.
FLOUR—Highest patent $5.10; best patent
« .7S; standard patent $1.85; half patent
: spring wheat patent $3.
CORN—No. 2 white 72c; choice white 75c;
white feed, 66c; No. 3 yellow. 73c; mixed.
71c ^cracked corn, per bushel, 75c; l^ulla,
"cHICnm FEED—Fifty-pound racks,**:
say, h fca Hrar®
OATH—No. 2 whito, 59c 1 No, 8 mixed, Me;
Golden oat.. Me.
MEAL—IMaln, |tar 95 pound sacks. w*.-:
plain, 48-pound aarka. 70c; plain, 20-poiup!
aarka. Tlr: germ. 11.25.
HaV—Timothy. choir, tar*, bales, SI.IQ.
do, rhnln\ small liatra. II m: do No. 1 third
bale*. II 30: tlo No. 2 tbtril balm 81.20; No.
I clover, mixed, 11.20; chulrc prairie SI; ber-
"■HORTS-Chiilo# white SI 45; T.aaa whit.
It.SS; fanry to-puuud 11.30; browu 8O0WO-
pound ii.j£ w
PROVISITNS.
rnOVIRIONH bupreme ham., I5%c; bel-
lira, 2«n:Spound arrragr, in.-; fat hex
8.22%: pTatr.. 8.15; Supreme lard, 974; I'urlty
compound 4Hr; Callfurnla hauta, 10.50; dry
aalt ntra rib,. 9df.r,
GROCERIES.
RICE—Jap 5p5Lc; head S5i7r; fancy hMd
fSfi dairy, lS«4c;
twins 16c.
SUGAK-Staodan! granulated $5 »0; New
York refined 4%c; plantation 4He..
COFFEE—Roasted Arbnckles $16; ^>ulk In
bags sad barrels, 12c; green 11012c.
Shredded biscuit. 6 cats: No. 3 rolled
neglecte«l for quite some time, are In much
better demand. The weather map showed
nly « slight betterment, and repinntlng
ud scarcity of sc»m! Is repi»rt»*4l from all
rer the belt. Right after the stnrt the
market tix’k a siublen spurt, following an
advance In New Orieaus caused'by n atsm-
»f the shorts ami g<H*«l I.lver|>oot buy-
There was very lb tie cottou for sale,
mid under active buying the July uplioti
roee t«» 10.34, the highest price reached lu
mouths. At this price traders who have
been buying for several days on the bad
weather news and small receipts begnn to
renllx*.* and gather In some of their profits.
vii nr --- •■The market eased «*ff a few points, but re-
of toasy a market. The unfavorable reports | tunltiol strong on the decline with a very
growing crop censes a good good undertone. The bull party seems to
°\J£r vona, !* ## *»<»ng European *pin have the situation of the near month* well
With good grades as bard to secure Jin hand, uud will no doubt advance price*
*wer grades, which have been • to higher level*.
$1.«. Ovsten, _
weight, $1.10 cose. _
pound. Fepper, 18c.
„ Jhtkl
Evaporated apples, 7%r
Baking powders, $5
May..
June. ,
July..
Aug. .
Sept: .
Oct. .
Nov, .
Dec. .
3l c
sa.
10.14jlO.151T
10.16 10.16-17
10.21 10.21-22
10.12 10.11-12
10.17 10.03-07
10.27 10.27
10.41 j 10.28 3'*
10,32 10.32-33 ■■
10.49 10.48-49ll0.52 66
mm
10.16-17
10.11- 13
10.11- 12
10.32-33
10.36
10.39-40
LIVERPOOL.
The following table gives the opening
range and close, compared wltb yesterday:
Futures opened firm.
Opening Previous
Range. 2 p.m. Close. Close.
May 6.07H-6.08
May-June ....6.07 -6.06
June-July ....6.00H
July-August .5.97 -5.98
Aug.-Kept. ..5.8774-5.88
Sept.Oct. ...5.8174-5.8074
Oct.-Nov. ...5.7474-5.74
Nov.-Dec. ...5.73 -5.72H
Dec.-Jan 6.71 >5.7174
Jan.-Feb. ...5.71 -5.70
Feb.-Mar. ...6.71
Closed firm.
5.72 6.75
5.70 5.74
6 ;*“ I fti m
6.67
NEW! ORLEANS.
The following li the rang. In cotton to-
turea In New Orleaoa today;
TIPS FLASHED
From Wall Street
.10.69 10.76 10.57
>bc 10.65 1
nn 110.70 1
L’ioaed ateady.
10-12
11.14-16
, 11.51-52 11.25-26
11.20 11.22 11.21-22 11.04-06
....10.71 10.78-80
.0.60 10.69-60 10.67-68
.... 10.59-61 10.66
. .0.60 10.69-60 10.66-67
I 10.61 10.62-64 10.71-72
NOTES ON GRAIN.
Pointers on Provisions.
From The Chicago Record-Herald.
In the newer or hard winter states
the prospects continue alarming. Pre
cipitation In the shape of either rain
or enow seems to persistently dodge
the big wheat producing aectlon of
Kansan, although there la more or leBs
moisture occasionally all ‘ around It.
High winds and unseasonably low tem
peratures have Increased the vlclstil-
tudea of tho dry section. Tho "green
bug” or grain aphis peat appears to be
steadily working Its way northward.
Much wider areas and a much more
thorough Infection are now seen In
Kansas than was apparent three weeks
before the destruction of tho leading
Oklahoma, arena. In fact, Nebraska Is
nearly as badly Infected as was Okla
homa at that time. Nevertheless, It Is
by no means a foregone conclusion that
the bugs will make as clean a sweep
In the northern latitudes as In the
southern, although there Is no known
reason why they should not. except for
possible rapid breeding ot their para
sites.
There Is scarcely any prospect of
corn deliveries on, May contracts Wed
nesday. There Is less than 500,000 bush
els of No. 2 grade here, while No. 3
sorts aro too much In demand for
shipment to bo sent out under the 6c
bushel penalty clause. The corn situ
ation has been steadily working strong
er for some time. During the last six
weeks there has been a shrinkage of
about 2,000,000 bushels In the weekly
arrivals at primary markets. This
makes the current movement very
nearly as light as that of iryear ago.
Cold weather Is setting back seeding
time to some extent and thus postpon
ing the tlmo when the movement from
the farms will begin to run heavy
again. Argentine trade sources that In
the past have been found more accurate
than the Argentine government have
made recent estimates ot the available
export surplus that Indicate a possible
export average of fully LOOO.OOO bush
els weekly for the year Instead of the
recent government estimates of 400,000
bushels weekly.
Oats values again scored new high
levels for the crop year to date. Re
seeding operations in the big nearby
producing states promise now to be
less extensive than was thought a
week since, although much severe
weather has been seen. The green bug
ravages southwest, however, continue
to Increase In Importance, the pest be
ing still unchecked by Its parasites and
huvlng comparatively favorable weath
er In which to work. Kxport possibili
ties In oats are too remote to promise
anything beyond a little to the Western
Hemisphere. There will be fntr de
liveries on May contracts, but the prop,
erty will be taken for merchandising,
and Is not likely to have much adverse
effect on market values.
CABLES WERE FIRM;
WEATHER_FREAKISH
Caused Upturn in Wheat,
and Corn and Oats
Followed.
COTTON SEED OIL.
cottou seed nil market:
May
July
S,'|,temlM'l'. . . .
October. . . . , .
November. . . .
December. . . .
Cmd .traily.
Chicago, May I.—There was a wild
rush of wheat shorts for cover (today,
anti gains of 1 5-802 l-4c were made,
Besides the fact that the 6,000,000
bushels of wheat delivered on May con
tracts went Into the hands of some of
the strongest houses In the trade.
W. Snow-, crop expert and statistician
In a special report, estimates the win
ter wheat crop at only 390,000.000 bush
els, compared with 492.000,000 bushels
a year ago. The report Indicates an
average yield of nbout thirteen bushels
to the acre and the government report
In December estimates an area of Sl,-
000,000 acres. From' this must be de
ducted a large area winter killed In the
Ohio valley, Missouri and the South
west. No one knows yet how much
this Is.
Corn was up 5-801c and oats gained
1 3-801 l-2e. Deliveries of com on
May contract amounted to only 10,000
bushels, while a million bushels of oats
were sent out and were stopped and
paid for by James A. Patten. These
oats will be shipped, which will leave
tho shorts high and dry and at the
mercy of the longs.
Tho farmers will benefit by tho bull
movement In oats, as they will ship In
all available supplies.
, Provisions closed 2 1-2012 l-2c high
er. Cash sales of grain at the set-
board Included 26 loads ot wheat, 10
loads corn and <5,000 bushels oats.
Local sales were 25,000 bushels of
wheat, 190,000 bushels corn and 100,000
bushels oats.
CHICAGO GRAIN MARKET.
*9 11 f. 4
Sg
83H 8674 85*
CORN—
May 49?4 60H 48% 5074
July 494j 50H 49% 5074
«fl*l 4974 5074 49H 6074
Oa
JAT8-
May.... 45H
* \v 421*
►t 3674
ORK-
May.. 15.45
July.*, 15.75
* »t.. 15.97%
.ARD- {
May... 8.5274
July... 8.7274
S«*pt... 8.80
SIDES—
May... 8.50
July... 8.72%
Sept... 8.75
47 45% 46% 457
3.8 5$ &
15.6274 15.4274 15.62% 15.50
15.92% 16.72% 15.99 15.80
16.00 15.87% 16.00 15.92V
8.62%
8.75
8.87%
m
8.85
8.50
ffl
CLEARANCES.
com
•at* l»» lm*liel*. Wheat 100,000 bUHhel*;
flour 22,000 barrel*.
PRIMARY MOVEMENT.
Wheat -Receipt* tmlnv 402,000 bushels: last
rear 246.000 bushels: shipment* today 736,-
000 bushel*; Ia»t year 194,000 bushel*.
Corn-Receipt* today 390,000 bushel*: last
rear 554.000 bushels: shipments t**lay 374.-
d00 bushels; Inst year 375.000 bushel*.
LIVERPOOL GRAIN.
n. in. unchanged to
higher.
Corn opened steady to % lower, and nt
1:30 p. in. % lower. Closed unchanged to
% lower.
CHICAGO CAR LOT8.
The receipts of grain In car lota todaj
sod estimated receipts for tomorrow ar* as
Today. Toomr
Wheat 29 26
Com 104 119
Oats 126 174
I logs, head 26000
WEATHER REPORT.
WEATHER CONDITIONS.
Cloudy weather continues nt most station*
east of the Mississippi and In the southwest
with rain falling at Corpus Chrlatl, Vicks
burg, Montgomery, Knoxville and Cincin
nati. In the lnat 24 hours rain has fallen
over a atrip of country extending from
Texas northeast into New England.
The area of high pressure la uow centered
over Iown and northern Illinois, while t**"—
are several small arena of relatively
pressure scattered over the country.
The temperature has fallen lu the Ohio
valley, the eastern lake region, Tennessee
and Mississippi. In the middle northwest
warmer weather Is the rule.
The Indications now point to partly cloudy
weather In this sectlou tonight and Thurs
day, cooler tonight.
COTTON REGION BULLETIN.
For the 24 hours ending at 8 a. m., 75th
merldlau time, May 1, 1957.
tri"tu 11.it V. Ill <1, IIC4 QC \.iur*.l
New York, May L—J. S. Bache & Co.: No
London market today—“May day." -
The Steel statement was a very favorable
one. Conservatism prevailed In dividend
policy, .while the earnings Justified u larger
return to shareholders. The money waa put
Into the Gary plant, and this should be re
garded as nllwfse. There will be very little
recession In business. If we are to Jr J "“
by tha enormous unfilled orders ou t
books. They are a million tons over the
same quarter last year. There Is no cause
for worry In respect to Bteel Corporation.
The last-year Erie earnings show up well
this morning, and no doubt Reading will
follow suit.
Pennsylvania, for tha eastern division,
shows some falling off, but the western di
vision Increases.
Market Inclined to broaden, and more fa
vorable weather in wheat sections.
Spot copper in London advanced over £3;
market exdtml.
The New York Commercial: Traders who
are Interested In Erie say they feel assured
that If the Morgan Interests felt like It
they could put the stock up by exerting
- very little pressure. Specialists assert
xt there Is a surprisingly large f
account on the common, and when the
price of the Issue Is taken Into considera
tion they do not see how the bears can
hope to depress It much further. Conse
quently they thing It nn easy matter to
make the snorts run to cover.
It Is thought that the floating supply
of Union Pacific In the market lias been
pretty well absorbed by this time. Wheth
er much higher prices now are necessary to
shake oat any more stock Is problematical.
The professional element still regards this
as the key to the situation in the market,
and look upon It as the best stock to uso
In bringing about rallies.
The railroads continue to show Increase
In gross earnings, return* from thlrty-two
corporations Indicating an average Increase
of 14.43 per cent for the third week In
April. It \yould cheer the hearts of the
management of these companies if the
vnnees above 148, and those who liought
from 140 up on these advices should not
neglect to take profits on a. major portion
scalp around 97.
Reading Is on
against the shorl
turns nbout buying on demonstrations of
strength.
The information on St. Paul continues
to he bullish, nud we think It may be
bought for turns on the recessions like
those of yesterday from top prices. North
ern Pacific and Great Northern preferred
are being favorably regarded In high grade
Investment house*, and purchases are rec
ommended for Investment and speculation
on recession*, dally operators being told
to take profits of a moderate nature dn
bulging.
Smelting held between 135 to 136, hut
should be bought on recessions for turns.
Philadelphia Is bullish on Pennsylvania.
Steel earning* may cause some buying,
but professionals will sell on bulges.
London, holiday. .
Town Topics: We expect the profit-tak
ing movement that was In evidence yester
day to run n little further, but In the
event of a decline of a couple of points
or so good stocks like Union, Southern Pa
cific. St. Paul Baltimore and Ohio, Norfolk,
Rending. Louisville and Nashville,. Atlantic
Const Line and Atchison should be bought.
to sho 1
OfflllllCS SKILL
. IT TK one
Sagging Tendency Shown
as a Result of Early
Dullness.
LONDON WAS CLOSED
Holiday in That Center Con
tributed to the Dullness
in American Markets.
New York, May J.—The .lock market
opened Irregular. AnneonUa and Petanart'
vaiiln atnrted lu H higher. Steel preterr'ed
opened K higher and gnlned In all %. Omit
Northern preferred opened H lower and lo,t
In nil %. Northern 1’nelfle and Amain-
mated lnat aa much, hut the latter rallUl
Smelting, Erie and Steel common de.
cllned K.
MINING STOCKsT
wton. May 1.—Opening atocks; Quine.
Callfornla-Arlaonn 17%: Greene 16V
Old Dominion 66%; Trinity 22; Copper Baimo
82; Tamarack 11; fehannon 17%. *
STATISTICAL POSITION
OF COTTON VERY STRONG.
New York, May 1.—Theo. Price, In a clr.
cular today, says: “Apparently, the trade
does uot realize the tremendous statistical
strength of the sltuatlou, so far as Amer
icans are concerned. We are exporting
each week from 100 to 200 per ceut of the
amount coming into sight,, which is to the
extent of fully 75 per cent composed of
Southern and Northern mills takings. The
stock of cotton at the United States ports
Inst night was 672.000. Of this, 150,000 hales
to sell at present. _
sand of the stuff ut the Southern ports Is
either under contract to mills, or consists
of llnters, sample cotton, re-pseked, etc.,
practically unavailable for general market
purposes. The net merchantable atock lo
the United States Is, therefore, not mors
than 72.000 bnles. If as much (at the porta).
At the interior towns, there Is a stock
of 390,000 hales, of Tvhlch 140,000 bales Is
nt Memphis. Much of this cotton. If not
nearly all of It, may be practically dis
missed ns available for the use of spinners.
Of the remaining Interior atocks, the bulk
Is held for account of Southern mills. The
n exhaustion Is .about as complete as It
ild possibly be. It Is apparent thnt
any prospect of a bumper crop next year
must be finally abandoned. I should like sq
expression of the trade's opinion as to what
would happen If next year’s crop waa not
over 11,500,000."
./ally are attracting attention, showing as
they do the fallacy of those who argue rijlLS CONTROL COURSF
early reduction In dividend rates. BULLS LUNTKUL LUUHbE
the winter wheat out
STATIONS
ATLANTA
DISTRICT.
* Atlanta, cloudy. . . ,
•Chattanooga, cloudy
Columbus, cloudy. . ,
Galnearllle. cloudy. .
Greenville, cloudy. . ,
Griffin, cloudy. . . .
•Macon, cloudy. . . .
Mont (cello, cloudy. ..
Newnnn. cloudy. . . .
Rome, cloudy. ....
Spartanburg, cloudy. .
Tallapoosa, cloudy. ..
Toccoa. clear. . . .
West Point, cloudy.
•Minimum temperature for
af
de?
SIt
Sol
7r7
THE COFFEE MARKET.
Heavy Rainfalls.
Alexandria, La., 1.64: Monroe, La., 2.01
Rohellne, La., 2.50; Columbus. Ml**., 1.62;
Meridian, Miss.. 1.88: Jackson, Miss., 1.90;
Lake. Mias., 1.98; Vicksburg, Miss., 2.50;
Montrose. Ark., 1.90.
Light frost occurred nt Weatherford, Still
water, Chandler, Oklo., and Oklahoma,
Okln. Heavy frost nt Sbawuee, Okla. Kill
ing frost at Holdenville, Okln.
Atlanta. . . .
Augusta. . . .
Charleston. . .
Galveston. . .
Little Rock. ..
Memphis. . . .
Montgomery. .
New Orleans.!
Oklahoma. . .
Savaiinnh. . .
Vicksburg. . .
Wilmington. .
TnmgCTTvuCTijg
HIT"
li
Xao
New York, May 1.—Following are coffee
cables:
Havre—Market steady; 12 noon,
months advanced % franc, far months un
changed; sales. 11.000; arrivals all kinds
during April 148.000, of which 103.000 are
Brasilian: deliveries, 200,000; stock, 2.649.000,
of which 2.145.000 are Brazilian. Total quan
tities discharging 24,000, of which 1,000
Brazilian.
Hamburg. 10 a. m.—Market unchanged;
sales, 48,0<X).
Rio receipts, 17,000; shipments to United
States. l.Ow; Europe, 3,w0; stock, 764,000;
^market weak.
Snntoa receipts, 86,000; stocks, 672,000;
market weak.
Sno Paulo receipts, 41,700; Jundlahy re-
elm*. 29.000.
The following figures give the opening
.ange and close of tho New York coffeo
market for today:
Opening
Range. Close.
.5.25-5.35 5.25-5.30
' “ 6.25-5.30
5.30- 5.35
5.45-6.50
5.40-5.45
5.30- 5.36
6.20- 5.25
5.20- 6.2S
5.20- 6.26
6.20- 5.25
5.20- 5.25
5.20-5.25
March
April
May
June .. ... .. ..
July .,
August
September .. ..
October
November ., .. ,
December
Closed steady.
5.25-6.35
5.30-5.35
5.25-5.30
5.45-5.60
5.35-5.45
5.35-5.40
6.30-5.40
6.25-5.30
5.25-6.30
6.25-6.35
6.25-6.30
Sales 84,500 bags.
cloudiness and warmer.
T. Indicates Inappreciable rainfall. *For
yesterday ••For 24 hours ending 8 a. m.,
75th meridian time.
Remarks.
Lower temperatures are reported from nil
districts except in Georgia and tho Unroll-
lias. Except lu Oklahoma, rain Is general
throughout the western districts; higher
temperature* sud fair weather continue to
prevail In the Atlantic coast district*.
J. B. MAKBURY.
Section Director.
WEATHER IN COTTON BELT.
Texas—Ilrenham cloudy and cold; rained
most of night. Waco cloudy and cold.
Houstou cloudy and cool; hard rain Inst
night. Temple cloudy nnd cool; rained late
yesterday. Taylor• cloudy and cool; hard
rain yesterday. Sou Antonio cloudy and
cool. Ijoke Charles cloudy: rained Inst
night. Austin cloudy and cool.
Mississippi—Meridian cloudy nnd threat
ening; rained yesterday and last ulgbt.
Lexington and Tupelo cloudy and misty;
rained all day yesterduy. Jackson ralnlug;
rained bard late last night and some yes
terday. Hasleburst raining hard; rained
last night.
Alabama—Florence cloudy and pleasant.
Selma cloudy aud warm: hard rain last
hf.
Tennessee — Memphis cloudy and cool;
| mined Inst night.
OF SUMMER POSITIONS.
New Orleans, May 1.—Yesterday’s cotton
market demonstrated the ability of longs to
do pretty much as they pleased with tho
summer positions. Unfavorable forecast
aud continued rains over the belt at a time
when Ideal climatic conditions are essential
are aiding the tendency, but the new crop
options probably have not as yet felt the
full force of the advene Influence* now at
work. Meanwhile American spot markets
generally are holding firm at higher prices,
and more than ono trader Is speculating on
the long side of the actual cotton as well *g
on the future. Memphis has increased the
discount on low middling to 2c under mid
dling, whereas the discount at New Or-
they can not sell low middling at 10%e,
which Is also the officially quoted valuation.
Yesterday’s market was broadened by the
Injection of outside buying.—Hayward^
Vick & Clark.
THE LIVE STOCK MARKET
Chicago, Ma;
Market
06.62%
tgo, May 1.—Ilogs—Receipts 27,000.
t slow at yesterday’s close; light $6.40
tfo.o«7s; mixed $6.3506.60; heavy $6.2006,55;
rough i6.20«6.45; pigs - ^ '*
8.50; yorker* $6!5i
Cattle—Receipts 11,000. Market a shade
jfghcr;J)eerea $4.2506.50; cows $1.8004.80:
heifers $2.6005.30: calves $3.6005.75; good
prime steers $6.8506.50; poor to medium
i4.2505.3O* u stockers and feeders $2.9005.15.
Sheep—Receipts 18,000. Market weak and
- shaue lower; native ‘
$1.4006.80: yei
8.65; western
aerer; native $4.4006.85; western
yeurllngs^jfl.8007.65; lambs $6,500
THE METAL MARKET.
New York, May 1.—All grades of copper
advanced 74c In the bid.
Tin advanced %c for spot and near-by de
liveries.
Lead and spelter were unchanged.
NAVAL STORE8.
Special to The Georgian.
Savannah. May 1.—Turpentine firm at
63c:. sales 587; receipts 231.
llosln firm; sales 969; receipts 412; win
dow gins* $5.4506.60; water white $6.35; M
95.W; N 95.20; K 13.15; I 95; II *4.80: O «.7«;
F 94.65; E 14.5004.55; D *4.50; C 94.40.
lanta 4401 if you have a
Want Ad for the afternoon
paper. Telephone by 12
o’clock and it will appear the
same afternoon.
STATE FORECASTS.
Georgia—Fair In west, showers In east
portion thts afternoon or tonight; cooler;
Tharsdny fair and cooler In scuthvast por
tion.
South Carolina—Showers and cooler this
afternoon or tonight; Thursday fair aud
cooler Itt east portion.
Alabama—Partly cloudy and cooler
night; Thursday fair uud wanner lu uoitb-
west portion.
I^iulsinna nnd Arkansas—Partly cloudy
THE AMERICAN AUDIT COMPANY
Home Office, 100 Broadway, New York City.
F. W. LAFRENTZ, 0. P. A., President.
C. E. Manwsring, Vico President, Theo. Cocheu, Jr., C. P. A., See. and Treat.
BRANCHES
\viirm,‘r; Thunder pertly cloudy end
warmer.
East Texas (north and south)—Generally
ATLANTA—Fourth Nat’l Bank Bid*.
CHICAGO—Marquette Building.
PHILADELr.TIA—Bellevue-Stratford.
SAN FT.ANCISCO—Belden Building.
HAYWARD, VICK & CLARK,
i ever, tho I
1* Ha ftlrefiUtf.
L. H. FAIRCHILD & COMPANY.
«. J. Whit*
NEW ORLEANS.
„ _ Members:
gsgg&sys.Bsr” isaas-aws®. .
“”ir»sa. coTTSw.SaiVi;’ - '-'
_ 'o NEW YORK nnJ CHICAGO. Order, aolletied fe» I
lure atu.eer. on above Zxcbange* u. C. COTHTIAK,
4.so rase, vwon, iw; cuw umip, «c: mus,
•poun) Jars. 48c. Roast beef, $160 case
Corue*! beef, $2.60 case. Catsup. fi.M case.
Strap. New Orleans. 35c gallon; corn. 30c
u'allou; Cuba. 35c gallon; Georgia cane. 36c
Sale. 100-pom.d, 60c. Axle grease, $L7&. 8oda
crackers, 6%«* pound; lemon 7%c; orator 7c.
Barrel randy, |**r iwund 674c: mixed, per
i»ounn, 6%c. Tomatoes, 2-pound $1.90 cast;
I-pound, $2.23. Navy beana. $2; Lima bean*.
6c. Best matches, per gross, $!.«. Much-
sesa
77V l!»l>*. 4-ply cotton, ISc. boa|;. 11.590
^ —■ ri9H.
Bream. 7c pound: snapper. 13c pound;
trout. pound: blue fish. 7c pound; pom-
patio, 26c pound: mackerel. *«Hc pound:
mixed fish. 5c pound: fresh water trout, tc
... . ..... *-* ■ buck 15c;
COTTON. STOCK8, BONDS. COFFEE, GRAIN AND PROVISIONS.
Carondelet and Gravl.r Sta, New Orleane.
MEMBERS:
I New Orleans Future Brokers’ Asseelstlea.
I New Orleans snd CMrsgo Boards ot Trade,
NEW YORK—^Waldorf-Astoria. "
BOSTON—Exchange Building.
WASHINGTON—Colorado Building.
NEW ORLEANS—Hennen Building.
BALTIMORE—Fidelity Building.
LONDON, ENOLAND—4 King Street, Cheapslde. .,
AT-ANTA BRANCH 1016*18 Fourth National Bank Building. '
C. B. BIDWELL, Resident Manager.
Telephone, Main 872. Cable Address, Amdlt, N. Y.
New Orisons Cotton Exebsnge.
Nsw York Cotton Exrbsnga.
Usl.cston Cotton Eiehsnse.
Uoustoa Cotton Excbsng*.
I Associate Vlemh
New Tork and Chicago Correspondents.
J. «. BACHE A CO., AND BARTLETT, FRAZIER & CARRINGTON.
PRIVATE WIRES TO ALL POINTS.
ALONZO RICHARDSON & CO.
PUBLIC ACCOUNTANTS
AND AUDITORS
Empire Building.
ATLANTA.
Beil Phone, Main 813.
GEORGIA.
FllAXK HAWKINS, President.
"■ 1 THOMAS C. ERWIN. Csshler.
U. W. BYERS, Assistant Cashier.
Third National Bank
Capital .... $200,000.00
Surplus and Profits $400,000.00
DR. A. W. CALHOUN.
MILTON DARGA.V,
JOHN W. GRANT,
II. Y. M’COBD,
FRANK HAWKINS,
II. M. ATKINSON.
JOSEPH A. M*c6rD,
J. If. NUNNALLY.
J. CARROLL PAYNE,
E. II. ROSSER.
DAVID WOODWARD.